Brokerages expect Iridium Communications (NASDAQ:IRDM) to report $119.27 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Iridium Communications’ earnings. The highest sales estimate is $121.73 million and the lowest is $114.60 million. Iridium Communications reported sales of $111.60 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The company is expected to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that Iridium Communications will report full year sales of $486.57 million for the current year, with estimates ranging from $482.20 million to $493.58 million. For the next fiscal year, analysts expect that the firm will post sales of $535.42 million per share, with estimates ranging from $524.70 million to $544.89 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Iridium Communications.
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Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, April 26th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $119.10 million during the quarter, compared to the consensus estimate of $111.60 million. Iridium Communications had a net margin of 44.81% and a return on equity of 5.19%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Iridium Communications from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. TheStreet downgraded shares of Iridium Communications from a “b” rating to a “c+” rating in a research report on Tuesday. BidaskClub downgraded shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. ValuEngine downgraded shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, BWS Financial assumed coverage on shares of Iridium Communications in a research report on Wednesday, May 9th. They set a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $15.25.
A number of hedge funds have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. purchased a new stake in Iridium Communications in the 1st quarter valued at $253,000. Barclays PLC raised its position in Iridium Communications by 99.7% in the 1st quarter. Barclays PLC now owns 47,766 shares of the technology company’s stock valued at $538,000 after purchasing an additional 23,843 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Iridium Communications in the 1st quarter valued at $877,000. Princeton Portfolio Strategies Group LLC raised its position in Iridium Communications by 28.3% in the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 25,260 shares of the technology company’s stock valued at $284,000 after purchasing an additional 5,570 shares during the last quarter. Finally, BB&T Securities LLC raised its position in Iridium Communications by 12.2% in the 1st quarter. BB&T Securities LLC now owns 96,347 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 10,482 shares during the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.
Shares of NASDAQ:IRDM traded down $0.15 during trading on Friday, hitting $11.55. 691,563 shares of the company were exchanged, compared to its average volume of 762,063. The company has a market capitalization of $1.29 billion, a PE ratio of 16.50, a P/E/G ratio of 21.94 and a beta of 1.80. The company has a current ratio of 2.68, a quick ratio of 2.58 and a debt-to-equity ratio of 1.23. Iridium Communications has a 12-month low of $9.68 and a 12-month high of $13.25.
Iridium Communications Company Profile
Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of things (IoT) services.
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